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      "volatility_stddev_usd": 0,
      "volatility_cv": 0,
      "max_drawdown_pct": 0,
      "momentum_yoy_pct": null,
      "momentum_acceleration_pct": null,
      "anomaly_type": "",
      "anomaly_severity": "0",
      "anomaly_z_score": 0,
      "new_corridor_signal_type": "new",
      "new_corridor_signal_strength": 81.27660938269726,
      "exporter_name": "Madagascar",
      "importer_name": "Austria",
      "published": true
    }
  ],
  "sections": {
    "overview": {
      "title": "What does this new corridor signal mean?",
      "summary": "The signal points to a newly observed exporter-to-buyer relationship in the available reporting. It is a prompt for market research, not a forecast, order, or guarantee of commercial access.",
      "reportedMarket": {
        "buyerMarket": "Japan",
        "imports": "$293.8M",
        "year": 2024,
        "annualChange": "+376.5%"
      },
      "exporterPosition": {
        "exporter": "Madagascar",
        "routeExports": "$11.7K",
        "currentShare": "0.0%"
      }
    },
    "signal": {
      "title": "A new relationship in the reported trade view",
      "type": "New corridor",
      "strength": "81/100",
      "reportedPeriod": 2024,
      "marketMomentum": "+0.0%",
      "availableProductHistoryYears": "1"
    },
    "market": {
      "latestImports": "$293.8M",
      "projectionThreeYears": "$359.7M",
      "supplierCount": "63",
      "averageImports": "$66.5M",
      "historicalPeak": "$311.9M",
      "fullHistoryGrowth": "+7.0%",
      "latestAnnualChange": "+376.5%"
    },
    "competition": {
      "topSupplier": {
        "country": "USA, Puerto Rico and US Virgin Islands",
        "iso3": "USA",
        "share": "92.3%"
      },
      "marketConcentrationHhi": "8,525",
      "exporterShare": "0.0%",
      "shareGap": "92.3%"
    },
    "access": {
      "appliedTariff": "Not reported",
      "mfnTariff": "Not reported",
      "preferentialTariff": "Not reported",
      "distance": "11,423 km",
      "tradeAgreement": "Not reported",
      "businessEntryTime": "11.1 days",
      "sharedSpokenLanguageScore": "0"
    },
    "economy": {
      "gdpPerPerson": "$39.3K",
      "gdpPerPersonGrowth": "+8.9%",
      "populationThousands": "125,682",
      "gdp": "$4.9T",
      "gdpFiveYearCagr": "Not reported",
      "investmentRate": "24.8%",
      "savingsRate": "24.6%"
    },
    "evidence": {
      "productHistory": [
        {
          "year": 2024,
          "export_value_usd": 11676.183182152185,
          "yoy_growth_pct": null,
          "cagr_3y_pct": null
        }
      ],
      "routeHistory": [
        {
          "year": 1995,
          "export_value_usd": 27217978.79059471,
          "yoy_growth_pct": null,
          "cagr_3y_pct": null
        },
        {
          "year": 1996,
          "export_value_usd": 41724939.294705115,
          "yoy_growth_pct": 53.299183659895235,
          "cagr_3y_pct": null
        },
        {
          "year": 1997,
          "export_value_usd": 31962680.79789073,
          "yoy_growth_pct": -23.3966991008977,
          "cagr_3y_pct": null
        },
        {
          "year": 1998,
          "export_value_usd": 20676287.625941448,
          "yoy_growth_pct": -35.31115942156544,
          "cagr_3y_pct": -8.75573764943246
        },
        {
          "year": 1999,
          "export_value_usd": 17941088.830026504,
          "yoy_growth_pct": -13.228674534800122,
          "cagr_3y_pct": -24.522467414402925
        },
        {
          "year": 2000,
          "export_value_usd": 28233667.991541475,
          "yoy_growth_pct": 57.36875425469796,
          "cagr_3y_pct": -4.050797671892892
        },
        {
          "year": 2001,
          "export_value_usd": 26895417.848936316,
          "yoy_growth_pct": -4.739908902400092,
          "cagr_3y_pct": 9.161269320406017
        },
        {
          "year": 2002,
          "export_value_usd": 28479575.54480116,
          "yoy_growth_pct": 5.89006538125787,
          "cagr_3y_pct": 16.65272955311037
        },
        {
          "year": 2003,
          "export_value_usd": 21110611.013407014,
          "yoy_growth_pct": -25.874558838849417,
          "cagr_3y_pct": -9.236514213173097
        },
        {
          "year": 2004,
          "export_value_usd": 23513767.20127186,
          "yoy_growth_pct": 11.383641081438345,
          "cagr_3y_pct": -4.380168787439976
        },
        {
          "year": 2005,
          "export_value_usd": 22138135.34996493,
          "yoy_growth_pct": -5.850325213870966,
          "cagr_3y_pct": -8.053364546206133
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        {
          "year": 2006,
          "export_value_usd": 21424907.182272248,
          "yoy_growth_pct": -3.221717441048233,
          "cagr_3y_pct": 0.4938262073175048
        },
        {
          "year": 2007,
          "export_value_usd": 17341710.726613004,
          "yoy_growth_pct": -19.05817570606715,
          "cagr_3y_pct": -9.651022660121978
        },
        {
          "year": 2008,
          "export_value_usd": 15670566.621253729,
          "yoy_growth_pct": -9.63655853626192,
          "cagr_3y_pct": -10.878759978748597
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        {
          "year": 2009,
          "export_value_usd": 20503173.74996984,
          "yoy_growth_pct": 30.838751689819087,
          "cagr_3y_pct": -1.4551239365005908
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        {
          "year": 2010,
          "export_value_usd": 9318457.916755168,
          "yoy_growth_pct": -54.55114398194634,
          "cagr_3y_pct": -18.701218422369514
        },
        {
          "year": 2011,
          "export_value_usd": 16118803.792559972,
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          "cagr_3y_pct": 0.9445096894937111
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        {
          "year": 2012,
          "export_value_usd": 13654948.256940024,
          "yoy_growth_pct": -15.285597909921833,
          "cagr_3y_pct": -12.671435313217605
        },
        {
          "year": 2013,
          "export_value_usd": 84268457.60231787,
          "yoy_growth_pct": 517.1276230174586,
          "cagr_3y_pct": 108.34048247670904
        },
        {
          "year": 2014,
          "export_value_usd": 135907195.87456596,
          "yoy_growth_pct": 61.27884589503596,
          "cagr_3y_pct": 103.53380313558489
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        {
          "year": 2015,
          "export_value_usd": 124772219.15848945,
          "yoy_growth_pct": -8.19307369593102,
          "cagr_3y_pct": 109.06240729121217
        },
        {
          "year": 2016,
          "export_value_usd": 108197393.44181947,
          "yoy_growth_pct": -13.284067421784119,
          "cagr_3y_pct": 8.688580757124464
        },
        {
          "year": 2017,
          "export_value_usd": 136053016.72503346,
          "yoy_growth_pct": 25.745188860018775,
          "cagr_3y_pct": 0.03575202623733453
        },
        {
          "year": 2018,
          "export_value_usd": 228407203.25653923,
          "yoy_growth_pct": 67.88102811285388,
          "cagr_3y_pct": 22.329339897447987
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        {
          "year": 2019,
          "export_value_usd": 187535121.03553164,
          "yoy_growth_pct": -17.894392837997074,
          "cagr_3y_pct": 20.121829551339275
        },
        {
          "year": 2020,
          "export_value_usd": 88167666.07609914,
          "yoy_growth_pct": -52.98605104512967,
          "cagr_3y_pct": -13.463288083573744
        },
        {
          "year": 2021,
          "export_value_usd": 205390972.82458133,
          "yoy_growth_pct": 132.95498448071038,
          "cagr_3y_pct": -3.478546790706416
        },
        {
          "year": 2022,
          "export_value_usd": 440353818.9139229,
          "yoy_growth_pct": 114.39784468522714,
          "cagr_3y_pct": 32.9147110018148
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        {
          "year": 2023,
          "export_value_usd": 317464217.85044074,
          "yoy_growth_pct": -27.907013811433234,
          "cagr_3y_pct": 53.271642869427204
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        {
          "year": 2024,
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          "cagr_3y_pct": -3.1981842226195267
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      ],
      "routeHistoryScope": "Broader Madagascar to Japan route exports, not only HS 970300."
    },
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      {
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        "hs_code": "271121",
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        "exporter_name": "Madagascar",
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    ],
    "faq": [
      {
        "question": "What does a new corridor signal mean?",
        "answer": "It identifies an exporter, buyer market, and HS6 combination included in the available new-corridor signal set for 2024. It is a research prompt, not a guarantee of demand or sales."
      },
      {
        "question": "Is the market opportunity reported trade?",
        "answer": "Reported buyer imports and exporter share are observations. Any projection or share-gap measure is calculated from the available data and should not be treated as an order or forecast."
      },
      {
        "question": "What should exporters check next?",
        "answer": "Validate product fit, buyers, tariffs, standards, logistics, pricing, competition, and the depth of product-level history before pursuing the route."
      }
    ],
    "dataSources": {
      "publisher": "OECD",
      "dataset": "Balanced international merchandise trade statistics (BIMTS) - HS2017-6D",
      "year": 2025,
      "citation": "OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-09-02)",
      "sourceUrl": "https://data-explorer.oecd.org/",
      "dataflowUrl": "https://sdmx.oecd.org/sti-public/rest/dataflow/OECD.SDD.TPS/DSD_BIMTS_6D@DF_BIMTS_HS2017_6D/1.0",
      "termsUrl": "https://www.oecd.org/termsandconditions/",
      "terms": "OECD Terms & Conditions",
      "accessed": "2026-09-02",
      "supportingSources": [
        {
          "publisher": "CEPII",
          "dataset": "BACI bilateral trade flows",
          "release": "202601",
          "citation": "Gaulier, G. and Zignago, S. (2010), BACI: International Trade Database at the Product-Level. The 1994-2007 Version, CEPII Working Paper No. 2010-23.",
          "sourceUrl": "https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html",
          "datasetUrl": "https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37",
          "licenseUrl": "https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf",
          "license": "Etalab 2.0 Open Licence",
          "accessed": "2026-09-02"
        }
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